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Lowell Milken

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CALIFORNIA | LOCAL
August 24, 2011 | By Larry Gordon, Los Angeles Times
A $10-million gift to UCLA's law school from alumnus Lowell Milken is stirring debate on the campus about the decision to name a business law institute for the former financier, who was linked to Wall Street's junk bond scandal two decades ago. A prominent business law professor has raised objections to the Milken gift and to UCLA's announcement this month that it will establish the institute in his name. But other law school faculty, along with top UCLA administrators, say they welcome the donation, noting that Milken was not convicted of any wrongdoing.
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OPINION
August 30, 2011
If all philanthropists were required to be morally upright, hospitals would be low on new wings and colleges would be starved for buildings. We'd also be missing a few beloved institutions outright — Stanford and Carnegie Mellon universities are cases in point. Charity is a virtue that should not be off-limits to scoundrels — if, in fact, they are truly giving to an institution rather than tethering their donations with strings that benefit them. Lowell Milken would probably be counted among the less pristine philanthropists, though not among the most scurrilous.
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BUSINESS
January 26, 1989 | DOUGLAS FRANTZ, Times Staff Writer
Lowell Milken has been portrayed in the press as subordinate to his older brother, Michael, and the plea bargain struck by Drexel Burnham Lambert with the government is consistent with that image. The agreement requires Drexel to fire Michael Milken immediately and withhold all of his 1988 bonus. But Lowell Milken is allowed to receive half of his bonus from last year and can remain in his job until his anticipated indictment on criminal charges, which could come as soon as today.
CALIFORNIA | LOCAL
August 24, 2011 | By Larry Gordon, Los Angeles Times
A $10-million gift to UCLA's law school from alumnus Lowell Milken is stirring debate on the campus about the decision to name a business law institute for the former financier, who was linked to Wall Street's junk bond scandal two decades ago. A prominent business law professor has raised objections to the Milken gift and to UCLA's announcement this month that it will establish the institute in his name. But other law school faculty, along with top UCLA administrators, say they welcome the donation, noting that Milken was not convicted of any wrongdoing.
BUSINESS
April 21, 1990 | KATHY M. KRISTOF, TIMES STAFF WRITER
Michael Milken, 43, may go to prison. Lowell Milken, 41, will go home. The government will drop two charges of racketeering and 11 counts of fraud against the unassuming family man who was indicted along with his famous older brother. The fate of Lowell apparently played a central role in the final negotiations between Michael Milken and federal prosecutors.
OPINION
August 30, 2011
If all philanthropists were required to be morally upright, hospitals would be low on new wings and colleges would be starved for buildings. We'd also be missing a few beloved institutions outright — Stanford and Carnegie Mellon universities are cases in point. Charity is a virtue that should not be off-limits to scoundrels — if, in fact, they are truly giving to an institution rather than tethering their donations with strings that benefit them. Lowell Milken would probably be counted among the less pristine philanthropists, though not among the most scurrilous.
BUSINESS
September 24, 1999 | JEFF LEEDS
A New York judge on Thursday dismissed a lawsuit arising from claims made about a New York criminal defense lawyer in "Den of Thieves," the 1991 bestseller about the fall of junk bond king Michael Milken. Attorney Michael F. Armstrong had filed suit against the book's author, James B. Stewart, and publisher Simon & Schuster, alleging defamation. Armstrong was mentioned only briefly in the book.
BUSINESS
March 19, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
The Securities and Exchange Commission took a long-expected step Monday and banned former Drexel Burnham Lambert junk bond chief Michael Milken from the securities industry for life. The SEC also imposed a permanent ban on his brother, Lowell. The orders were part of a settlement of SEC administrative charges pending against the two. Michael Milken, 44, earlier this month began serving a 10-year term at a minimum-security federal prison in Northern California.
BUSINESS
July 25, 2002 | Bloomberg News
LeapFrog Enterprises Inc., a maker of educational toys backed by Michael Milken and Larry Ellison, raised $117 million Wednesday in an initial public offering. LeapFrog sold 9 million shares at $13 each, at the bottom of the $13-to-$16 range the company had indicated. Merrill Lynch & Co. and Citigroup Inc.'s Salomon Smith Barney managed the sale. The IPO comes amid a stock market slump that has limited sales of new equity.
BUSINESS
June 6, 1989 | SCOT J. PALTROW, Times Staff Writer
The U.S. Supreme Court removed the main legal hurdle that delayed Drexel Burnham Lambert Inc.'s announced plan to settle a Securities and Exchange Commission lawsuit and plead guilty to separate criminal charges. In a decision announced Monday, the court refused without comment to hear an appeal brought by Michael Milken, the former head of Drexel's "junk bond" department; his brother Lowell, and Pamela Monzert, another Drexel employee. Lawyers for Milken and the others had claimed that Milton Pollack, the 82-year-old federal judge presiding over the SEC lawsuit, had a conflict of interest and should be removed from the case.
CALIFORNIA | LOCAL
November 18, 2010 | By Rick Rojas, Los Angeles Times
The Maywood Elementary Flowers, clad in sky blue shirts and sunflower headbands, performed a song in the auditorium. School district officials and well-dressed guests looked on, the news cameras rolled and third-grade teacher Tamara Garfio sat with her class near the back of the room. She had no clue it was all for her. In a surprise announcement Wednesday, Garfio received the Milken Educator Award, an honor given to about 60 teachers nationwide each year that comes with a prize of $25,000 ?
BUSINESS
July 25, 2002 | Bloomberg News
LeapFrog Enterprises Inc., a maker of educational toys backed by Michael Milken and Larry Ellison, raised $117 million Wednesday in an initial public offering. LeapFrog sold 9 million shares at $13 each, at the bottom of the $13-to-$16 range the company had indicated. Merrill Lynch & Co. and Citigroup Inc.'s Salomon Smith Barney managed the sale. The IPO comes amid a stock market slump that has limited sales of new equity.
BUSINESS
September 24, 1999 | JEFF LEEDS
A New York judge on Thursday dismissed a lawsuit arising from claims made about a New York criminal defense lawyer in "Den of Thieves," the 1991 bestseller about the fall of junk bond king Michael Milken. Attorney Michael F. Armstrong had filed suit against the book's author, James B. Stewart, and publisher Simon & Schuster, alleging defamation. Armstrong was mentioned only briefly in the book.
OPINION
October 9, 1994
As a 1987 recipient of the Milken Family Foundation National Educator Award, I was pleased to see the colorful and insightful article by Bob Pool (Sept. 29) about two outstanding Los Angeles-area educators who had just been paid surprise visits by Lowell Milken and told, as admiring students looked on, that they had been selected to receive this prestigious award as well as $25,000 each. What your reporter could not know is the long-term effect this award has had on me and others like me. I have gained so much from the Milken Family Foundation's continued outreach and nurturing.
BUSINESS
March 19, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
The Securities and Exchange Commission took a long-expected step Monday and banned former Drexel Burnham Lambert junk bond chief Michael Milken from the securities industry for life. The SEC also imposed a permanent ban on his brother, Lowell. The orders were part of a settlement of SEC administrative charges pending against the two. Michael Milken, 44, earlier this month began serving a 10-year term at a minimum-security federal prison in Northern California.
BUSINESS
April 24, 1990 | From Associated Press
Michael Milken, the junk bond king who once made mighty corporations tremble, wept and pleaded guilty today to six criminal charges and agreed to pay $600 million to settle the biggest Wall Street fraud case ever against an individual. "I realize by my acts I have hurt those who are closest to me. I am truly sorry," Milken said, breaking down and crying as he read a statement in court.
BUSINESS
February 11, 1989 | SCOT J. PALTROW, Times Staff Writer
Lawyers for Drexel Burnham Lambert "junk bond" chief Michael Milken filed papers in federal court Friday in an attempt to save his job and his 1988 bonus, estimated at $200 million. The lawyers said that the U.S. Attorney's Office in Manhattan had acted "like a sheriff in the Wild West," blatantly ignoring Milken's constitutional property rights when it forced Drexel to sign a plea agreement requiring the firm to fire Milken and withhold nearly all of his compensation for 1988.
BUSINESS
March 1, 1989 | SCOT J. PALTROW, Times Staff Writer
Federal prosecutors claimed Tuesday that Drexel Burnham Lambert's "junk bond" chief Michael Milken and his brother, Lowell Milken, don't have any legal right to prevent Drexel from entering into a plea agreement that would deprive the brothers of their jobs and many millions of dollars in compensation. Instead, the U.S. Attorney's Office in New York suggested that the brothers sue Drexel in civil court if they believe that any contractual rights to their jobs or bonuses have been violated.
BUSINESS
April 21, 1990 | KATHY M. KRISTOF, TIMES STAFF WRITER
Michael Milken, 43, may go to prison. Lowell Milken, 41, will go home. The government will drop two charges of racketeering and 11 counts of fraud against the unassuming family man who was indicted along with his famous older brother. The fate of Lowell apparently played a central role in the final negotiations between Michael Milken and federal prosecutors.
BUSINESS
August 24, 1989 | SCOT J. PALTROW, Times Staff Writer
Federal prosecutors have decided to drop their demand that Drexel Burnham Lambert withhold more than $100 million in compensation owed to former junk bond chief Michael Milken and his brother, Lowell, for their work in 1988, sources close to the case said. The government's demand had become the subject of a legal battle and was holding up Drexel's plans, announced months ago, to plead guilty to six felony counts and pay $650 million in penalties.
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